Monthly Archives: July 2015

The Best Vehicle Expense Method Choosing the Best Vehicle Expense Method: Businesses generally have the option of choosing between one of two methods for documenting vehicle expenses and reporting them on their tax return. With the actual expense method, the business documents and reports all of a vehicle’s operating expenses including gas, oil, scheduled maintenance and repair.  In contrast, the standard mileage method involves deducting a set mileage amount for each mile a vehicle is driven. Although there are some restrictions on the use of the standard mileage method, most businesses have the option of selecting whichever vehicle expense method provides … Click to Read More